Edward Ostad & Pratik Shah Acquires Mixed Use Property On Columbus Avenue In Manhattan For $4.2M
944 Columbus Ave, New York, NY 10025, USA
Building Size
8,285 SF
Asset Type
Mixed-use
Closing
Jan 11, 2018
AI
The mixed-use property located at 944 Columbus Avenue in Manhattan has been sold for a price of $4,200,000. The property spans a total area of 8,285 square feet and was sold at a price per square foot of $507. The transaction was completed on January 12, 2018.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $4,200,000
- Address: 944 Columbus Avenue
- City: New York
- Market: Manhattan
The seller of the property was Dengler Family’s Black Seal Realty, while the buyer was Edward Ostad & Pratik Shah. Cushman and Wakefield’s Guthrie Garvin and Hall Oster represented the parties involved in this transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93